Ethical Alliance Daily News

Ethical Alliance Daily News

United Kingdom: Tesco scandal investigation dropped by Financial Reporting Council
Jun 09, 2020 06:00 pm
The accountancy watchdog has dropped its five-year investigation into an accounting scandal at Tesco that left a black hole in the supermarket group’s figures. The Financial Reporting Council said yesterday that it had closed its inquiry into a profit overstatement of £326 million that the FTSE 100 company revealed in
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Spain: Spain probes ex-King Juan Carlos over alleged Saudi bribe
Jun 09, 2020 05:30 pm
Prosecutors of Spain’s Supreme Court on Monday announced an investigation into former King Juan Carlos in connection to a contract awarded to Spanish companies to build a high-speed railway in Saudi Arabia. The investigation is the result of a separate probe by Spain’s anti-corruption prosecutors into bribes allegedly paid to
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South Korea: Court rejects arrest warrant for Samsung heir Lee Jae-yong
Jun 09, 2020 05:00 pm
A Seoul court rejected Tuesday the arrest warrant for Samsung heir Lee Jae-yong over the succession probe. The Seoul Central District Court turned down the prosecution’s request to arrest Lee, vice chairman of Samsung Electronics, saying that there is not sufficient probable cause for his arrest. At a court hearing
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United States: Jailed ex-Hong Kong official Patrick Ho released after finishing US sentence for bribery and money laundering
Jun 09, 2020 04:30 pm
Disgraced former Hong Kong minister Patrick Ho Chi-ping was released from a New York prison on Monday, after serving a jail term over a multimillion-dollar scheme to bribe top African leaders. The 70-year-old, who was jailed for 36 months and fined US$400,000 last year, was also expected to be deported
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Singapore: Singapore Mulls Tighter Anti-Laundering Rules for Casinos
Jun 09, 2020 04:00 pm
Singapore is considering tighter regulations at its casinos in an effort to prevent money laundering and financing for terrorism, according to the Casino Regulatory Authority. The regulator has already asked casino operators to lower the threshold for cash transactions that are subject to due diligence to S$5,000 ($3,588), half the
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China: Fallen Hengfeng Bank Chief Faces Trial in $1.45 Billion Capital Graft Case
Jun 09, 2020 03:30 pm
Cai Guohua, former chairman of joint stock lender Hengfeng Bank, will stand trial for his life starting Tuesday in Shandong on multiple allegations in the latest episode of a nearly three-year cleanup of the troubled bank. Cai, 55, who was placed under investigation in November 2017, faces charges including abuse
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